Tech investors looking to reduce their risk in an unpredictable trade environment could turn to software names like Microsoft (MSFT) and Adobe (ADBE) over tech firms that depend more heavily on hardware sales, Morningstar analysts wrote in a note this week. 

Microsoft, for instance, "has minimal risk exposure to retail, advertising spending, cyclical hardware, or physical 澳洲幸运5官方开奖结果体彩网:supply chains," they said. Similarly, they added Creative Cloud developer Adobe has a long-term competitive advantage over many other tech firms, pointing to its "wide moat" and minimal risk of disruption.

Smartphones, computers, and semiconductors are 澳洲幸运5官方开奖结果体彩网:presently exempt from President Donald Trump's "reciprocal" tariffs, but the administration has warned new tech tariffs could be coming in theᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚ next few months.

Morningstar analysts estimated that about 60% of smartphones and PCs are imported from China, which raises tariff-related risks for companies like Dell (DELL), HP (HPQ), and Apple (AAPL), am൲id trade tensions between the U.S. and 𝔉China.

President Trump 澳洲幸运5官方开奖结果体彩网:said Tuesday that tariffs on imports from China "will come down substantially but it won't be zero." Earlier this month, Trump had raised import taxes on Chinese goods to 145%, and China 澳洲幸运5官方开奖结果体彩网:retaliated with 125% tariffs on U.S. goods.